IMF optimistic forecast says about growth of Azerbaijani economy

According to the forecasts of the International Monetary Fund (IMF), the real GDP in Azerbaijan will reach the pre-pandemic level in 2023.

In 2020, against the background of the COVID-19 pandemic, the country's economy declined, and real GDP decreased by 4.3% to AZN 28.6 bn.

According to the IMF forecasts, in 2021, the production of real GDP in Azerbaijan will increase by 2.3%, and in 2022 by 1.7% up to AZN 29.2 bn and AZN 29.7 bn, respectively.

According to Fund's long-term forecasts, in 2023 country's real GDP will exceed the indicator of 2019 (AZN 29.9 bn) and will amount to AZN 30.2 bn (compared with the forecast for 2022 by 1.7% more). In addition, according to the IMF forecasts, the country's economy will grow by an average of 1.8% in 2021-2026.